Mises Daily
Author:
Llewellyn H. Rockwell Jr.
Online Publish Date:
Since 1990, we’ve heard about what a low rate of inflation we’ve experienced. In some ways, it might appear low compared with what we experienced in the late 1970s. The dollar of 1976 was worth only 63 cents by 1981, once the Nixon-Carter inflation had done its work. The cultural and economic consequences were devastating. A generation was